South Dakota Investment Council Has $4.47 Million Holdings in Ingredion Incorporated (NYSE:INGR)

South Dakota Investment Council cut its holdings in Ingredion Incorporated (NYSE:INGR) by 45.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,487 shares of the company’s stock after selling 26,825 shares during the period. South Dakota Investment Council’s holdings in Ingredion were worth $4,469,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of INGR. Creative Planning grew its stake in shares of Ingredion by 5.5% in the third quarter. Creative Planning now owns 11,203 shares of the company’s stock valued at $1,540,000 after acquiring an additional 584 shares in the last quarter. Blue Trust Inc. grew its stake in Ingredion by 126.1% during the third quarter. Blue Trust Inc. now owns 1,343 shares of the company’s stock worth $185,000 after buying an additional 749 shares in the last quarter. Signaturefd LLC grew its stake in Ingredion by 5.7% during the third quarter. Signaturefd LLC now owns 1,570 shares of the company’s stock worth $216,000 after buying an additional 85 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Ingredion by 10.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,003 shares of the company’s stock worth $550,000 after buying an additional 387 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Ingredion by 114.1% during the third quarter. Allworth Financial LP now owns 929 shares of the company’s stock worth $128,000 after buying an additional 495 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Ingredion Stock Up 1.4 %

INGR stock opened at $128.07 on Monday. The stock has a market capitalization of $8.22 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.03 and a beta of 0.74. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. Ingredion Incorporated has a 12 month low of $109.51 and a 12 month high of $155.44. The firm has a 50-day moving average price of $133.87 and a 200-day moving average price of $136.57.

Ingredion (NYSE:INGR) last posted its earnings results on Tuesday, February 4th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Ingredion had a net margin of 8.71% and a return on equity of 18.62%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. As a group, equities research analysts anticipate that Ingredion Incorporated will post 11.14 EPS for the current fiscal year.

Ingredion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Thursday, January 2nd were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 2.50%. Ingredion’s dividend payout ratio (DPR) is presently 32.96%.

Insider Activity at Ingredion

In other Ingredion news, CFO James D. Gray sold 54,869 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $146.76, for a total transaction of $8,052,574.44. Following the completion of the transaction, the chief financial officer now owns 12,795 shares in the company, valued at approximately $1,877,794.20. This trade represents a 81.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James P. Zallie sold 10,815 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $125.88, for a total transaction of $1,361,392.20. Following the transaction, the chief executive officer now owns 34,127 shares of the company’s stock, valued at approximately $4,295,906.76. The trade was a 24.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,685 shares of company stock worth $9,414,112 in the last quarter. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

INGR has been the topic of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of Ingredion from $147.00 to $133.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. UBS Group increased their price objective on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Stephens reduced their price objective on shares of Ingredion from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays increased their target price on shares of Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

About Ingredion

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.